Stephan Villeneuve, a video journalist who had covered conflicts across the world, was injured while filming a piece together with Véronique Robert on the battle of Mosul to be aired on public television channel France 2.
They were accompanying Iraqi special forces during the battle to reconquer Mosul from the Islamic State armed group.
Iraqi Kurdish reporter Bakhtiyar Addad who was assisting the French team died in the blast, according to France Televisions and press freedom watchdog Reporters Without Borders.
The French journalists were both taken to a hospital on a US military base following the explosion.
Villeneuve later succumbed to his injuries.
"The management and staff at France Televisions sympathise with the pain of his partner Sophie, his four children, his family and all those he was close to. They offer their most sincere condolences," the head of the news department said in a statement.
Reporter Samuel Forey, who worked for a number of French media organisations including French daily Le Figaro, also suffered light injuries.
"I am very sad for Bakhtiyar and my colleagues, I ask you to not contact me for a couple of days," he wrote on Twitter.